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HTC in process of selling Shanghai factory

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With the tough financial position HTC finds itself in these days, CEO Cher Wang is being pressed into some tough decisions about how to keep the company afloat. Earlier this month the company announced it was cutting about 15% of its workforce and would scale back its model lineup. Those changes mean HTC may not need quite as much factory capacity, a fact that Wang is using as an opportunity. According to new reports, HTC is in the process of selling a facility located in Shanghai to one of its Chinese competitors.

Terms of the deal are not known, but the facility was built in 2009 at a cost of $32.2 million. The facility is 146,667 square meters in size (approximately 1.5 million square feet) and houses two production lines. Depending on how the deal goes, we may not know how much cash the sale will infuse HTC with until their next quarterly financial report is released.

source: mobile-dad.com
via: GSM Dome